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Flood Insurance Rate Increase - What You Need to Know
Whether or not you're a policyholder - present, ex, or to-be!

Flood insurance rates are going up for almost everyone in annual phases over the next 5 years. There are plenty of changes and reevaluations happening that influence your flood insurance rate, and there are a lot of scenarios that apply to different property owners.

If you're a property owner (or are planning to buy or sell a property), we will walk you through what is happening in the industry, how it will affect you and what you can do to best control your flood insurance cost.

Why Do I Need Flood Insurance?

To help you secure a home loan, to start with. 95% of home loans in the United States are federally insured. If you have a federally insured loan through Fannie and Freddie Mae, it is mandatory that your property is covered by Flood Insurance. No insurance, no loan.

Contact Insurance by Allied Brokers to cover your property against flood risks.

Call us @ 650-328-1000 and save now!

What is Changing in Flood Insurance?

Beginning this year, there will be changes that bring up the Flood Insurance premium rates by up to 25% and a new Reserve Fund charge will start being assessed - as mandated by Biggert-Waters Flood Insurance Reform Act of 2012 (BW-12). In essence, your flood insurance rates are going up. But the extent of rate increase depends on the area your property is located in, and its elevation.

What Do I Do?

Contact Insurance by Allied Brokers and know your options. We are equipped with every information we need to find the best options for you, so you don't have to end up paying more for your flood insurance than you should be.

Why Insurance by Allied Brokers? Why not another agent?

Over 50 years of our experience in the Bay Area have enabled us to gauge the changing insurance market accurately. And the expertise we have gained over those 50+ years will make it easy for you to find the best coverage at the best price, while avoiding all the problems that our competitors at call centers, and with less experience, will cause you.

Delaying it can cost you more than you could imagine. So don't keep thinking about it.

Call us @ 650-328-1000 and save now!

 

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